Al Gore now richer than Mitt Romney
With the sale of Current TV, the former vice president's fortune is pegged at more than $300 million.
A lot has changed for former Vice President Al Gore, who left the White House with a reported $1.9 million net worth.
That puts his net worth well ahead of that of former presidential candidate Mitt Romney, who has an estimated fortune of $230 million and was often mocked for being out of touch with ordinary Americans during the election.
Gore's wealth accumulation began soon after he left the White House in 2001. Apple (AAPL) tapped him in 2003 to serve on its board, and the former vice president held more than 100,000 shares and options in the tech company as of Dec. 17, according to a regulatory filing. That makes Gore's stake worth more than $56 million, based on Apple's recent trading price.
Google hired Gore to serve as a senior adviser on environmental issues in 2001, a role he held for three years. He doesn't have a formal financial relationship with the company currently, Forbes.com reports.
Gore also has his hand in a global investment company called Generation Investment Management, which he founded in 2004 with ex-Goldman Sachs (GS) executive David Blood. Together, Blood and Gore have reportedly built a company with assets under management of more than $6 billion.
The truth is, serving in the White House often proves beneficial to a person's financial health.
Take a look at former President Bill Clinton, who since leaving the White House has built a net worth of about $38 million, helped by income as an author and public speaker. He's able to command speaking fees of more than $700,000, although more typically he is paid in the $500,000 range for his public events, reports CNN.com.
Still, Gore's new wealth may strike some people as being at odds with his image as an environmental do-gooder.
Conservative television host Bill O'Reilly condemned Gore as a hypocrite, citing a report that he wanted to sell Current TV to Al-Jazeera before higher taxes kicked in on Jan. 1.
Other people have pointed out that Current's sale to Al-Jazeera, which is backed by Qatar, "reeks of irony," given Qatar's oil-based economy, which might not jibe with Gore's environmental message from "An Inconvenient Truth."
Gore's net worth might not be as high as Forbes estimates: Bloomberg, for one, pegged his profit at $70 million from the Current TV sale. If that's the case, his net worth might be only $270 million or so -- but that's still higher than Romney's.
More on Money Now
- Self-driving cars roll into CES
- College football wins more fans and ad dollars
- Sushi mania: 489-pound tuna sells for $1.76M
Now you are pushing for Muslim brotherhood to infiltrate our country and beliefs. Thanks. And you dodged paying your fair share. Oh, and I just can't wait until you begin to sell air to each and every human being on earth. You're a genius!
That's so awesome, Al, our pal!
What a jerk! I totaly agree with itnm on this one.
Liberal hypocrites love to hate the rich conservatives.
Look at brad pitt and most of hollyweird.
Never ceases to amaze me how the Democrats are supposedly for "the little guy" and the middle class, defending them against the mean Republican rich guys, but they themselves are rich capitalists.
They give little if any to charity but want all us upper middle class workers to fund the welfare class who are on the government dole.
Mat 16:26For what is a man profited, if he shall gain the whole world, and lose his own soul? or what shall a man give in exchange for his soul?
Copyright © 2014 Microsoft. All rights reserved.
[BRIEFING.COM] The stock market finished an upbeat week on a mixed note. The S&P 500 shed less than a point, ending the week higher by 1.3%, while the Dow Jones Industrial Average (+0.1%) cemented a 1.7% advance for the week. High-beta names underperformed, which weighed on the Nasdaq Composite (-0.3%) and the Russell 2000 (-1.3%).
Equity indices displayed strength in the early going with the S&P 500 tagging the 2,019 level during the opening 30 minutes of the action. However, ... More
More Market News
As geopolitical tensions threaten to spin out of control, investors are wondering how best to position their portfolios for the global turmoil.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'